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. >> if i was worried about a deal struck by president obama and the senate? no. >> democrats incyst it would be exercise in futility that could rattle world markets. >> mercifully, worst congress in history perhaps goes out of existence in two days. if they open this up on the floor and starting to amend, you know, we'll be swearing in the new congress while they are still acting out that drama. >> yet, conservative outrage over the deal is building. especially after the congressional budget office said legislation that was supposed to help cut the deficit will now add $3.6 trillion to the national debt over the next ten years. the architect of the senate deal minority leader mitch mcconnell notes it lacks in tax cut for large portion of the public. rattling it now would likely hand the blame to the republicans. >> i can speak to the entire conference when i say we don't think taxes should be going up on anyone. but we all knew if we did nothing they would be going up on everyone today. we weren't going to let that happen. >> aide to the president incyst he w
. >> if i was worried about a deal struck by president obama and the senate? no. >> democrats incyst it would be exercise in futility that could rattle world markets. >> mercifully, worst congress in history perhaps goes out of existence in two days. if they open this up on the floor and starting to amend, you know, we'll be swearing in the new congress while they are still acting out that drama. >> yet, conservative outrage over the deal is building. especially after...
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but across the country people remained out of work and are still out of force so this time president obama ran under the banner it could have been so much worse as you imagine it was not a better deal or a national euphoria it was more like you have no choice but to choose me kind of something that shocked me as i was covering the election here it was it was the second debate between obama and romney i'm sure you remember if you remember that i just presidential nominee from the green party joel stein was arrested right outside the venue where the debate was taking place she was protesting for exclusion from the state and nobody like no news channel period mentioned her arrest none and i was switching channels for hours to see if anything was said about that and he was nothing i can imagine what the reaction would be here in the states if a presidential candidate is the other big country was arrested in the media there would be but eventually but apparently it happens in the u.s. no big deal presidential candidates get arrested all the time right well there was some irony in that yes anywa
but across the country people remained out of work and are still out of force so this time president obama ran under the banner it could have been so much worse as you imagine it was not a better deal or a national euphoria it was more like you have no choice but to choose me kind of something that shocked me as i was covering the election here it was it was the second debate between obama and romney i'm sure you remember if you remember that i just presidential nominee from the green party...
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and a lot of liberals are arguing that obama caved and they don't like the deal that he negotiated and they might say, you know what, we're already over the cliff. let's wait for the new congress to get in the house. we'll start over. so this is pretty bad news if you think from the perspective of wanting a deal before thursday. >> if they start all over again, they could do it within a few days and my experience in washington, the longer you wait on a deal like, this the more complicated potentially you could get. >> they can't let us continue on the fiscal -- we've gone over the fiscal cliff. >> unemployment could go from 7.75% to 7.95%. >> the white house tried to do a grand bargain with boehner and revenue piece that's been kicked back to the house and the house is saying, forget it, forget it, we want these spending cuts, too. so everyone has to be in a room negotiating this thing. >> ryan, thank you. >>> the vice president joe biden has just weighed in on the confusion in the house of representatives. what is he saying? stand by. jessica yellin is over at the white house. 315 hor
and a lot of liberals are arguing that obama caved and they don't like the deal that he negotiated and they might say, you know what, we're already over the cliff. let's wait for the new congress to get in the house. we'll start over. so this is pretty bad news if you think from the perspective of wanting a deal before thursday. >> if they start all over again, they could do it within a few days and my experience in washington, the longer you wait on a deal like, this the more complicated...
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rejection of the fiscal cliff deal sign that the they that obama won't be negligenting on the debt ceiling? >> this is art. where does this leave us at this point? amendments, no time for that, pass it. nothing like bringing in the new year with a good old fiscal cliff get it together congress. henry is on our independent line, henry, good afternoon, this is c-span and you're on. caller: good afternoon. i'm an independent and i wanted to comment that i guess the democrats have to be cause shouse that the republicans don't wake up and take the position they have in a catch 22 position. they can give him everything he asked for and if he's successful in his programs and his plans, we are the republican party and the house gave you ever dollar you asked for, everything worked out fine and turn around to the american public and say it was us, the republicans that did this. if it doesn't work out they can turn around and say, well, we gave you everything you asked for and it didn't work. it time for us to take over. just a word of caution to the democrats. >> connie in south carolina. good afte
rejection of the fiscal cliff deal sign that the they that obama won't be negligenting on the debt ceiling? >> this is art. where does this leave us at this point? amendments, no time for that, pass it. nothing like bringing in the new year with a good old fiscal cliff get it together congress. henry is on our independent line, henry, good afternoon, this is c-span and you're on. caller: good afternoon. i'm an independent and i wanted to comment that i guess the democrats have to be cause...
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mitch mcconnell says he wants to strike a deal. think about it, history states they've been the party of no. he said from the beginning if obama wants it, why are we going to do it? at the end of the day congress can sit around but these directly affect us. as students, think about the division tax breaks, things will go away and affect my family. within i look at congress, i see it's shifted to one side. i don't know. i feel like they need to step up and make a compromise. with obama it's like a mandate, with the taxing the wealthiest americans, if he's elected which by a landslide, maybe they need to catch up and form and modernize the party. >> reporter: how much does the political posturing, how is that to watch this churn day after day for the past several days? >> it's rough. i was watching yesterday when the president spoke, hoping maybe they had come to some point. hearing him say we're close but not there yet, it's like these are things that directly affect americans and if this is your job, this in is why we elect you, it
mitch mcconnell says he wants to strike a deal. think about it, history states they've been the party of no. he said from the beginning if obama wants it, why are we going to do it? at the end of the day congress can sit around but these directly affect us. as students, think about the division tax breaks, things will go away and affect my family. within i look at congress, i see it's shifted to one side. i don't know. i feel like they need to step up and make a compromise. with obama it's like...
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the accusation was always made that all this stuff was an attempt to discredit liberalism and the new deal and we now have in our own time we heard it said not since obama was in office, dissidence is the highest form of patriotism. i don't buy that. i don't buy it at all. of course the democrats no longer say that. i hardly dared tell you where i would draw the line. federal marshals will materialize out of the walls, and lock me up immediately. i was delicately suggesting that even whitaker chambers, who was a great man and "witness" is a great book, but whitaker chambers fell into the misguided view of america that was prevalent, not so prevalent but always existed on the right. understanding of the precious value and virtues of the society, even now. and denigrating it which is quite consistently, and he saw a lot in common between chambers and canon, i have been rereading "witness" and i said to my wife last night chambers has a lot in common with george kennedy. when i said this, they were deeply patriotic. i said no they weren't. i don't think they were traitors or anybody, and the
the accusation was always made that all this stuff was an attempt to discredit liberalism and the new deal and we now have in our own time we heard it said not since obama was in office, dissidence is the highest form of patriotism. i don't buy that. i don't buy it at all. of course the democrats no longer say that. i hardly dared tell you where i would draw the line. federal marshals will materialize out of the walls, and lock me up immediately. i was delicately suggesting that even whitaker...
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president obama is encouraging them to, quote, pass it without delay, but this is not a done deal, not by any stretch of the imagination. the senate bill would raise taxes for individuals making more than $400,000 a year, $450,000 for couples. those are levels that are higher than what president obama had called for during the presidential campaign and during the heated negotiations. senior white house foreign affairs correspondent wendell goler is live with the latest. does the white house have a sense of what might happen in the house? >> reporter: vice president biden wouldn't predict how the house would vote, in fact, the president and his aides are waiting to see if the house even picks up the vote today. the senate deal, basically, buys the nation a two month extension of the so-called fiscal cliff, but it doesn't contain any spending cuts, and that's a going to make it a tough sell to house republicans. yesterday the president aimed to put some pressure on them in an appearance that showcased middle class americans who'd be hit by a tax hike. mr. obama said he'd have preferred a
president obama is encouraging them to, quote, pass it without delay, but this is not a done deal, not by any stretch of the imagination. the senate bill would raise taxes for individuals making more than $400,000 a year, $450,000 for couples. those are levels that are higher than what president obama had called for during the presidential campaign and during the heated negotiations. senior white house foreign affairs correspondent wendell goler is live with the latest. does the white house...
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that's $200,000 higher than the threshold president barack obama originally proposed. that is the senate deal postponed by two months, the spending cuts that are scheduled to start on january 1st. the senate passed the bill on two tuesday, two hours after the december 31st deadline. members of the republican-led house of representatives will vote on the bill on tuesday. lawmakers are expected to work on a stopgap measure to ensure the impact of the suspended tax cuts is minimal. >>> doctors treating hillary clinton say they have found a blood clot between her brain and skull. but they say she is making an excellent recovery. staff at a hospital in new york issued a statement on monday, a day after clinton arrived for treatment. last month, doctors diagnosed her with a concussion after a stomach virus caused her to become dehydrated and faint. she had been resting at home since then. medical personnel say an mri revealed a clot in a vein between clinton's right here but they say she did not suffer a stroke or any neurological damage. they say she is in good spirits and
that's $200,000 higher than the threshold president barack obama originally proposed. that is the senate deal postponed by two months, the spending cuts that are scheduled to start on january 1st. the senate passed the bill on two tuesday, two hours after the december 31st deadline. members of the republican-led house of representatives will vote on the bill on tuesday. lawmakers are expected to work on a stopgap measure to ensure the impact of the suspended tax cuts is minimal. >>>...
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many democrats didn't love all the details, but they're going to -- president obama has signed on to the deal, so that's going to push a lot of democrats over the line and they'll get enough votes today to get this passed. >> all right, let's say this gets done today, lynn. vice president biden reportedly told democrats, and we saw him going on the hill, i don't know what time, 10:00, 11:00 last night, that the real work is yet to come in march, when the sequester cuts will come up again, and of course, the debt ceiling battle. how does what happened last night either pave the way for or impede the way to what happens in the spring? >> well, it sets it up. it's a kick of the can down the road. and one of the trade-offs that biden made was giving the restoring to republicans some of the leverage they lost right now. everyone knows that the big pressure to get the senate to act was that everyone's taxes was going to rise at midnight. now it's some people's, the wealthiest taxes. that was leverage. democrats won't have it again in a few weeks. that's another reason why some democrats th
many democrats didn't love all the details, but they're going to -- president obama has signed on to the deal, so that's going to push a lot of democrats over the line and they'll get enough votes today to get this passed. >> all right, let's say this gets done today, lynn. vice president biden reportedly told democrats, and we saw him going on the hill, i don't know what time, 10:00, 11:00 last night, that the real work is yet to come in march, when the sequester cuts will come up again,...
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even as they closed in on that deal yesterday, congressional republicans were not happy with what they heard from president obama who held a campaign-style event at the white house. >> i'm going to be president for the next four years, i think. >> reporter: effectively continuing the partisans' bickering we've long seen. >> time to stop the cheerleading and campaigning. >> i know the president enjoys heckling and having pep rallies to get congress to act instead of sitting down and negotiating. >> reporter: now the big new year's test, can it pass in the house? for "good morning america," jonathan karl, abc news, washington. >>> president obama says the agreement reached by the senate is the, quote, right thing to do for our country and is encouraging the house to pass it without delay. >>> secretary of state hillary clinton is spending this new year's day in a new york hospital where she is being treated for a blood clot near her brain. doctors are using blood thinners to try to break up the clot which was found more than two weeks after clinton fainted and suffered a concussion. whil
even as they closed in on that deal yesterday, congressional republicans were not happy with what they heard from president obama who held a campaign-style event at the white house. >> i'm going to be president for the next four years, i think. >> reporter: effectively continuing the partisans' bickering we've long seen. >> time to stop the cheerleading and campaigning. >> i know the president enjoys heckling and having pep rallies to get congress to act instead of...
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president obama chastised in his speech congress for taking too long to get the deal done. but he also threw something out at republicans saying if they think that spending cuts is the only thing that's going to reduce the deficit, they have another thing coming and that basically references the $16.5 trillion in debt which is the next issue on the table. a lot of republicans were offended and it could antagonize enough of them to jeopardize an "up" vote on this bill to get it done. >> they are making progress. that's a good sign in the new year. we see what the house says today. tara mergener live on this new year's day in washington, thank you. >>> and that's how they rang in 2013. about a million people in all over the world got the times square treatment. new york's crystal ball dropped into the new year. it was cold but worth it they say to join the party. looks like the weather cooperated for a spectacular night of fireworks along the waterfront in san francisco. they jammed the embarcadero as midnight approached. when it was all over the cars jammed the streets in th
president obama chastised in his speech congress for taking too long to get the deal done. but he also threw something out at republicans saying if they think that spending cuts is the only thing that's going to reduce the deficit, they have another thing coming and that basically references the $16.5 trillion in debt which is the next issue on the table. a lot of republicans were offended and it could antagonize enough of them to jeopardize an "up" vote on this bill to get it done....
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. >>> looking beyond the senate deal, president obama is warning republicans that if they want future spending cuts, they're going to have to provide more tax revenue as well. >> if republicans think that i will finish the job of deficit reduction through spending cuts alone -- and you hear that sometimes coming from them, that sort of after today we're just going to try to shove only spending cuts down -- well, shove spending cuts at us. if they think that's going to be the formula for how we solve this thing, then they've got another think coming. >> that midday news conference didn't go over well with a lot of republicans, and they said that the president's sometimes mocking tone, as they felt it was, could hurt the fiscal cliff deal in the house. >> as i sort out my impressions of the president's remarks as to whether to be angry or to saddened. we have the president of the united states go over and have a cheerleading ridiculing of republicans exercise. >> let's bring in democratic strategist and former edwards communications director chris ka fiance and republican strategist and
. >>> looking beyond the senate deal, president obama is warning republicans that if they want future spending cuts, they're going to have to provide more tax revenue as well. >> if republicans think that i will finish the job of deficit reduction through spending cuts alone -- and you hear that sometimes coming from them, that sort of after today we're just going to try to shove only spending cuts down -- well, shove spending cuts at us. if they think that's going to be the...
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deal. and the house reconvenes by midday today. a vote could also come today. >> tara, a lot of republicans weren't happy with the president's speech yesterday. is there any indication that that could affect the vote in the house? >> well, president obama during that speech criticized congress for taking too long to come up with this deal. he also laid the groundwork for another problem that's coming and that's basically burrough -- upping the country's burrough limit. republicans will no doubt try to use upping that in ex-kang for spending cuts. and to which the president said, they have another thing coming if they think that's going to be the case. spending cuts alone are not going to be able to reduce the country's deficit. so we have that coming. senator john mccain said basically that's going to antagonize a lot of the house members and possibly jeopardize the vote. >> a lot of negotiations still need to be done. all right, tara mergener live in washington for us, thank you. >>> what
deal. and the house reconvenes by midday today. a vote could also come today. >> tara, a lot of republicans weren't happy with the president's speech yesterday. is there any indication that that could affect the vote in the house? >> well, president obama during that speech criticized congress for taking too long to come up with this deal. he also laid the groundwork for another problem that's coming and that's basically burrough -- upping the country's burrough limit. republicans...
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host: president obama talking about what democrats won, potentially, in this deal. a writer for the nation -- "the nation" -- as he writes, the bill was approved, and most republicans were behind it. they're worse -- there were some no votes. there were five republican nos. there were three knows from the democrats, senators bennett, harper, and tom harkin. richard in capitol heights, maryland, an independent color. caller: thank you for taking my call. those people realize that this so-called fiscal cliff, but there is a reason why these tax cuts camp -- come up every year. it is so they can keep debating over the american people, to allow the american people to pay super rich people's america -- their taxes. i just do not get what people do not understand that this is why it comes up every year. that is what we will keep doing. this is what they are fighting for. it is wild. sexting dollar trillion of debt is bush and obama tax cuts -- $16 trillion that is the bush tax cuts that keep coming up. the medicare plan be. that is the other is trillion dollars. we cannot
host: president obama talking about what democrats won, potentially, in this deal. a writer for the nation -- "the nation" -- as he writes, the bill was approved, and most republicans were behind it. they're worse -- there were some no votes. there were five republican nos. there were three knows from the democrats, senators bennett, harper, and tom harkin. richard in capitol heights, maryland, an independent color. caller: thank you for taking my call. those people realize that this...
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now president obama is calling on the house to pass it without delay. the deal avoids tax hikes and spending cuts that were to go into effect at midnight. >>> secretary of state hillary clinton is spending a second night in a new york hospital. she's being treated for a blood clot that formed in her head. doctors expect her to make a full recovery. >>> investigators say it could be at least a month before they know what caused a bus to crash in oregon that killed nine people. the charter bus was returning to canada when it plunged down an embankment sunday. survivors say people were thrown from the vehicle through broken windows. when the bus stopped, terrified passengers looked around for loved ones. >>> with five days left as governor of north carolina, beverly perdue has issued full pordens of the so-called wilmington ten. nine black men and one white woman were wrongly convicted 40 years ago for the fire bombing of a white-owned grocery store in wilmington. they denied any roll in the fire bombing but were sentenced to prison. three key witnesses la
now president obama is calling on the house to pass it without delay. the deal avoids tax hikes and spending cuts that were to go into effect at midnight. >>> secretary of state hillary clinton is spending a second night in a new york hospital. she's being treated for a blood clot that formed in her head. doctors expect her to make a full recovery. >>> investigators say it could be at least a month before they know what caused a bus to crash in oregon that killed nine people....
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congressman tom harkin from iowa said no deal is better than a bad deal. he voted against it. "the new york times" says it weakens president obama's hand going forward and may hurt him in the debt ceiling negotiations. he has ruled out any negotiations over the debt ceiling and on monday he vowed that revenue increases must match further spending cuts. but as this deal shows, he often compromises at the last minute. that's the important part. let's leave it there. has president obama showed when his back support against the wall, he will cave? >> the president has been very strong in these negotiations. you have to keep in mind the republicans really did not want to tax more wealthy people in our society one dime. not a dime, and he's stuck with that. i consider myself a liberal and proud of it. we did not want an increase in t the age with regard to medicaid and cpi with regard to social security benefits. and the president was strong there, and i think he'll continue to be strong, and, you know, i notice a different president since he won this election, i think he is working
congressman tom harkin from iowa said no deal is better than a bad deal. he voted against it. "the new york times" says it weakens president obama's hand going forward and may hurt him in the debt ceiling negotiations. he has ruled out any negotiations over the debt ceiling and on monday he vowed that revenue increases must match further spending cuts. but as this deal shows, he often compromises at the last minute. that's the important part. let's leave it there. has president obama...
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and in this deal they are going to allow that tax cut to expire. that's going to take about $20 a week out of worker's paychecks and put it into the social security trust fund instead. >> thank you very much for that update. on our facebook page we asked you why you think law makers waited so long to reach this phase of the deal. one viewer writes i feel they did it to prove a point. maybe they need a lower salary. maybe they will understand. another writes i could have told you months this was how it was going to play out. 2013 will be social security and medicare reform that will come down to the 11th hour. to read the rest of the comments and leave your own, log on to our facebook fan page. >>> the deal by the senate does not address is the debt ceiling. the u.s. reached legal borrowing limit of $16.4 trillion and now the treasury department must work to buy time until the end of next month. suspend investments for benefit fund. the department will not be able to payoff the nation's bill on time. could set the stage for another capitol hill batt
and in this deal they are going to allow that tax cut to expire. that's going to take about $20 a week out of worker's paychecks and put it into the social security trust fund instead. >> thank you very much for that update. on our facebook page we asked you why you think law makers waited so long to reach this phase of the deal. one viewer writes i feel they did it to prove a point. maybe they need a lower salary. maybe they will understand. another writes i could have told you months...
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to president obama. we'll let you know what happens with that. here's a live look outside. i can tell you at 4:27 in the morning on any other day would not be as crowded. you can see many cars in that direction still not a problem anywhere in the bay area. welcome back. time now is 4:29 in the morning as we take a live look outside from a roof camera at downtown san francisco. we'll be checking in with erica who has a look at your forecast in just a few minutes from now. now, get this. they had weeks, months to work on it, but of course they waited until the very last minute, scaring the entire nation. a m was proved on tax incruises and spending cuts, possibly avoiding the fiscal cliff. now the m goes to the house of representatives. ed payne has the story. >> reporter: at the stroke of med night, many americans were celebrating and bringing in the new year. but the mood in washington, much more serious. vice president joe biden went to capitol hill late after the deal was struck. the senate went back i
to president obama. we'll let you know what happens with that. here's a live look outside. i can tell you at 4:27 in the morning on any other day would not be as crowded. you can see many cars in that direction still not a problem anywhere in the bay area. welcome back. time now is 4:29 in the morning as we take a live look outside from a roof camera at downtown san francisco. we'll be checking in with erica who has a look at your forecast in just a few minutes from now. now, get this. they had...
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the only reason we don't have a big deal or anything on spending because barack obama does a pep rally during the negotiations. he will spend every dime you give him. this guy is big government liberal. only big idea every embraced is big government. stimulus, obamacare. we'll make him historic president whether he wants it be or not. social security and medicare are going bankrupt. the debt ceiling is a chance to get those programs out of bankruptcy and put the country on a path to sustainability. we borrowed 2.1 trillion in august of 2011. we spent 2.1 trillion in 17 months. we're burning threw money. every child in america born owes $51,000 on the date of their birth. and that is unacceptable. that is going to stop. we're not going to raise the debt ceiling again and borrow a unabout much more money until we address why we're going protect as a nation. steve: senator graham, i was talking to one of my neighbors that works on wall street. he says given the inaction up on capitol hill regarding the debt and long-term entitlements we're cruising to get downgraded again by the rating ag
the only reason we don't have a big deal or anything on spending because barack obama does a pep rally during the negotiations. he will spend every dime you give him. this guy is big government liberal. only big idea every embraced is big government. stimulus, obamacare. we'll make him historic president whether he wants it be or not. social security and medicare are going bankrupt. the debt ceiling is a chance to get those programs out of bankruptcy and put the country on a path to...
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what do you make of president obama, the negotiator? there has been a lot of criticism from the left, frankly, that he gave too much to republicans as this part of the deal. he's showing them when his back is up against the wall, he will gave. 250,000 was his limit all along, what is he like as a negotiator? your thoughts? >> i don't think that is a fair criticism. there this is give and take, there are some on the left for who any give at all is a failed negotiation. the president is politically the big winner here. he got what he wanted with the tax cuts. he got what he wanted with the estate tax and other issues and the sequester delay. so i just think that the president working with senator mcconnell, who did a very good job with his conference in the senate, that they all look good. we have to see if we can do our job in the house. that's still to come today. >> congressman, thank you very much. happy new year and good luck going forward. >> i appreciate it. thank you. >>> coming up, the senate agrees to the fiscal cliff deal, but
what do you make of president obama, the negotiator? there has been a lot of criticism from the left, frankly, that he gave too much to republicans as this part of the deal. he's showing them when his back is up against the wall, he will gave. 250,000 was his limit all along, what is he like as a negotiator? your thoughts? >> i don't think that is a fair criticism. there this is give and take, there are some on the left for who any give at all is a failed negotiation. the president is...
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thanks to obama care. five new taxes due to obama care will start going into effect. they impact everything from healthcare costs to the cost of medical devices. the congressional budget office says americans will end up paying $1 million. the deadly attack in benghazi was tearrism. cia and other government agencies that made changes to the talking points on the attack not the white house. following the attack u.n. ambassador susan rice says they used the talking points may have been a spontaneous protest that got out of hand. >>> netflix users can now share every movie they have err watched with facebook plans. congress passed a bill allowing netflix and other video streaming sites to share viewing history. users will have the opportunity to opt in or out of the social sharing feature. >>> colorado had the first recreational pot club. months after it became legal private members only clubs popped up all over the state. it prohibits public smoke sgug include private clubs. they have an admission fee of $30
thanks to obama care. five new taxes due to obama care will start going into effect. they impact everything from healthcare costs to the cost of medical devices. the congressional budget office says americans will end up paying $1 million. the deadly attack in benghazi was tearrism. cia and other government agencies that made changes to the talking points on the attack not the white house. following the attack u.n. ambassador susan rice says they used the talking points may have been a...
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that would minimize the impact of not having a deal in place by the start of the year. another spending battle is also brewing on capitol hill. the government is close to reaching its debt limit. the treasury is taking steps to delay reaching the $16.4 trillion borrowing limit. yesterday it stopped issuing new debt for two government retirement funds. that won't impact current retirees. treasury secretary timothy geithner announced last week that his department will adopt measures to save about $200 billion. that's going to keep the government from reaching its limit for about two months. >>> we've also got much more information coming ahead in the next few hours on this deal right here on news4 today. again on news 4 at 5:00 and at 11:00. you can also read about it by going to nbcwashington.com. >>> today is the day some couples in maryland thought would never come. same-sex marriage became legal at the stroke of midnight and it's exactly how some couples decided to bring in the new year. sabrina and natasha of frederick exchanged vows the minute same-sex marriage beca
that would minimize the impact of not having a deal in place by the start of the year. another spending battle is also brewing on capitol hill. the government is close to reaching its debt limit. the treasury is taking steps to delay reaching the $16.4 trillion borrowing limit. yesterday it stopped issuing new debt for two government retirement funds. that won't impact current retirees. treasury secretary timothy geithner announced last week that his department will adopt measures to save about...
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the deal making continue well into the night with the vote coming at 2:00 in the morning. as you said, the vote -- the bill passed 89-8. shortly after the vote, president obama said while neither decembers nor republicans got everything they wanted, this agreement is the right thing to do for our country and the house should pass it without delay. now, house speaker john boehner and his leadership team say they need it review the bill before putting it up for a vote. that could happen late today or perhaps wednesday. in the deal approved by the tonight, income tax rates will stay the same for most americans. individuals making $400,000 and couples making $450,000 will see their taxes rise. the planned $24 billion in spending cuts to defense and domestic programs, they've been delayed just two months. senators say it is a less than perfect plan but it is a start. >> we don't think taxes should be going up on anyone but we all knew, if we did nothing, they would be going up on everyone today. we weren't going to let that happen. each of us could spend the rest of the week di
the deal making continue well into the night with the vote coming at 2:00 in the morning. as you said, the vote -- the bill passed 89-8. shortly after the vote, president obama said while neither decembers nor republicans got everything they wanted, this agreement is the right thing to do for our country and the house should pass it without delay. now, house speaker john boehner and his leadership team say they need it review the bill before putting it up for a vote. that could happen late...
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they missed the deadline but just two hours into the new year, the senate voted in favor of a budget deal that now goes to the house and president obama are wants action today. >>> revelers around the globe from rio de janeiro welcome 2013 with a b bang with a few peculi traditions. >>> we say good-bye to the safest air travel ever, and we say hello to over 400 new laws. "early today" starts right now. >> announcer: this is "early today" for tuesday, january 1st, 2013. >>> good morning, on this first day of january, i'm bill karins. now it's all up to the house today. they're expected to take up a senate measure approved just hours after midnight and it's halting an enormous tax hike for all but the wealthiest of americans from taking effect. nbc's steve handelsman has all the latest details from capitol hill where it's been a very long night. good morning and happy new year to you, steve. >> reporter: bill, thanks. up here on capitol hill, members of both political parties who badly want these middle class taxes rolled back fast, quote, what the senate did this morning makes it easier fo
they missed the deadline but just two hours into the new year, the senate voted in favor of a budget deal that now goes to the house and president obama are wants action today. >>> revelers around the globe from rio de janeiro welcome 2013 with a b bang with a few peculi traditions. >>> we say good-bye to the safest air travel ever, and we say hello to over 400 new laws. "early today" starts right now. >> announcer: this is "early today" for tuesday,...
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the white house hopes to have president obama's signature on the legislation by the time the new congress takes office. that is at noon on thursday. that would minimize the impact of not having a deal in place by the start of the year. >>> another spending battle is brewing on capitol hill. the government is close to reaching its debt limit. the treasury is taking steps to delay reaching the 16.4 trillion dollar borrowing limit. yesterday it stopped issuing new debt for two government retirement funds. that will not affect current retirees. treasury secretary timothy geithner announced last week that his department will adopt measures to save $200 billion keeping the government from reaching its limit for about two months. >>> we'll have much more on this deal throughout this evening on news 4 at 5:00 and then again at 11:00. you can also read about it throughout the day by going to nbcwashington.com. >>> at some point numbers will be fun again but not right now. >> absolutely. but it is a chilly start this morning. not as bad as it has been the past couple of days. >> this is true. 4:31
the white house hopes to have president obama's signature on the legislation by the time the new congress takes office. that is at noon on thursday. that would minimize the impact of not having a deal in place by the start of the year. >>> another spending battle is brewing on capitol hill. the government is close to reaching its debt limit. the treasury is taking steps to delay reaching the 16.4 trillion dollar borrowing limit. yesterday it stopped issuing new debt for two government...
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on wall street today, investors bought up stocks on high hopes of deal, after president obama said this afternoon a deal is "in sight," and positive comments from republican leaders in the senate. here's how the major averages closed on this last trading day of 2012. the dow surged 166 points, the nasdaq jumped about 60, and the s&p rose almost 24 points. while wall street has already closed the books on 2012, washihiashington still has a fes to go before its new year's day fiscal cliff deadline. darren gersh has the latest. >> reporter: after a weekend of late-night negotiations with the vice president, senate republican leader mitch mcconnell said an agreement on the fiscal cliff was very, very close. >> we'll continue to work on finding smarter ways to cut spending, but let's not let that hold up protecting americans from the tax hike that will take place in about 10 hours. >> reporter: the deal would raise the top tax rate for individuals making more than $400,000 and couples with more than $450,000 in income. itemized deductions would be limited for individuals making more than $25
on wall street today, investors bought up stocks on high hopes of deal, after president obama said this afternoon a deal is "in sight," and positive comments from republican leaders in the senate. here's how the major averages closed on this last trading day of 2012. the dow surged 166 points, the nasdaq jumped about 60, and the s&p rose almost 24 points. while wall street has already closed the books on 2012, washihiashington still has a fes to go before its new year's day fiscal...
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president obama released a statement shortly after the senate vote. it reads in part "tonight's agreement ensures that going forward we will continue to reduce the deficit through a combination of new spending cuts and new revenues from the wealthiest americans. i will continue to fight every day on behalf of the middle class and those fighting to get into the middle class to forge an economy that grows from the middle out, not from the top down." >>> that vote may not come right
president obama released a statement shortly after the senate vote. it reads in part "tonight's agreement ensures that going forward we will continue to reduce the deficit through a combination of new spending cuts and new revenues from the wealthiest americans. i will continue to fight every day on behalf of the middle class and those fighting to get into the middle class to forge an economy that grows from the middle out, not from the top down." >>> that vote may not come...
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with just hours to go a deal emerges to avert the fiscal cliff, but can congress pass the measure in time? president obama says they can, we've got the latest from washington, on what could happen before the new year's day deadline. and wall street ends the year with a rally and healthy gains. s&p strategist sam stovall joins us with where he sees stocks headed in 2013. that and more tonight on "n.b.r."! washington lawmakers are getting close to a fiscal cliff deal, but they might not get it done before the midnight deadline tonight. the senate could vote in time, but it's possible the house will wait until tuesday. that means the u.s. could go over the fiscal cliff.
with just hours to go a deal emerges to avert the fiscal cliff, but can congress pass the measure in time? president obama says they can, we've got the latest from washington, on what could happen before the new year's day deadline. and wall street ends the year with a rally and healthy gains. s&p strategist sam stovall joins us with where he sees stocks headed in 2013. that and more tonight on "n.b.r."! washington lawmakers are getting close to a fiscal cliff deal, but they might...
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by early this afternoon amid reports of progress, president obama emerged in a campaign style setting. >> today it appears that an agreement to prevent this new year's tax hike is within sight. but it's to the done. there are still issues left to resolve. but we're hopeful that congress can get it done. but it's not done. >> it was widely reported that the deal would include making the bush era tax cuts permanent for families with incomes under $450,000 a year. for households making more than that amount, rates would rise from the current 35% to 39.6%. the agreement would also raise the estate tax. in addition, unemployment benefits would be extended for one year. otherwise some 2 million americans face the end of their benefits beginning in january. on the senate floor shortly before midafternoon, minority leader mcconnll confirmed that the stalemate on taxes appeared to be over. >> i can report that we've reached an agreement on all of the tax, the tax issues. we are very, very close. as the president just said, the most important piece, the piece that has to be done now is preventi
by early this afternoon amid reports of progress, president obama emerged in a campaign style setting. >> today it appears that an agreement to prevent this new year's tax hike is within sight. but it's to the done. there are still issues left to resolve. but we're hopeful that congress can get it done. but it's not done. >> it was widely reported that the deal would include making the bush era tax cuts permanent for families with incomes under $450,000 a year. for households making...
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although the deadline has passed, congress can still deal with the impact of spending cuts and tax increases that were set to go into effect on january 1. congressional leaders say they want to send legislation to president obama within a day or two, so consumers should not notice any impact. again, that from the associated press. and now, we talk to a reporter on capitol hill about the actions so far by senate democrats in reaching an agreement. todd is from the takeaway. hours before the deadline, democrats announced a scaled- down version to avoid the so- called fiscal cliff. what are some of the key items in the deal? >> the most important items people will be paying attention to are the income tax rates. you are looking at a tax increase on individuals making more than $400,000 and individuals and families making more than $450,000. president obama campaigned on 250 thousand dollars, and they are redefining what is middle class. now, someone who makes $300,000, that person is middle class, too, but that is fiscal cliff politics. you have the marginal rates. there are going to be some ch
although the deadline has passed, congress can still deal with the impact of spending cuts and tax increases that were set to go into effect on january 1. congressional leaders say they want to send legislation to president obama within a day or two, so consumers should not notice any impact. again, that from the associated press. and now, we talk to a reporter on capitol hill about the actions so far by senate democrats in reaching an agreement. todd is from the takeaway. hours before the...
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we've got to figure out a way to deal with student loans and the proliferation of these loans. that wouldn't be a bad place to start, you know? i mean, there are whole eas that i wouldn't mind seeing obama put his stamp on. >> let's talk about your own story. you came to new jersey from santo domingo when you were six. your parents come with you? >> yes. my father was already here. my father had left in '69, a year after i was born, working in new york city. and then in '74, five years later, the rest of the family, me and my siblings and my mother joined him. we all moved to new jersey. >> and how did they support you? what were they doing? >> my father was a forklift operator. my mom had five kids, so you can image that was her full-time job and her hobby. and that was how it all began. my dad driving forklift up in elizabeth, new jersey. and us going to school. and my mom sort of trying to make it all happen in the house. >> what did they want you to do? >> oh my god, i mean, immigrant, conservative family, and a kid who they began to dawn that this kid was kind of bookish a
we've got to figure out a way to deal with student loans and the proliferation of these loans. that wouldn't be a bad place to start, you know? i mean, there are whole eas that i wouldn't mind seeing obama put his stamp on. >> let's talk about your own story. you came to new jersey from santo domingo when you were six. your parents come with you? >> yes. my father was already here. my father had left in '69, a year after i was born, working in new york city. and then in '74, five...
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this deals with the issue of taxes, something that president obama has been talking since 2008. campaigned on this issue in 2012, and the third part will be that march trifecta, when you are going to have both the budget to deal with as well as the debt ceiling and the sequester issue, which will come back again, those are some of the details my colleague, chuck todd, gotten from inside that meeting with the senate democratic caucus. we expect president obama to be briefed on that meeting as well. vice president biden played a key role in negotiations. i am getting details from democratic source who's say the president has played an important role as well. working the phones. apparently last night after vice president biden had spoken to mcconnell, he, the president, a number of staffers met from 1:00 a.m. until 1:45 and sort of hammered out the final details of this deal and then their staffers were up until way past 3:30 this morning. this is something that has been going on overnight while a lot of people have been sloping on the white house and that is the latest we've been
this deals with the issue of taxes, something that president obama has been talking since 2008. campaigned on this issue in 2012, and the third part will be that march trifecta, when you are going to have both the budget to deal with as well as the debt ceiling and the sequester issue, which will come back again, those are some of the details my colleague, chuck todd, gotten from inside that meeting with the senate democratic caucus. we expect president obama to be briefed on that meeting as...
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. >> earlier president obama had harsh words. >> if they think i will finish the job in spebding cuts -- spending cuts alone they've got another thing coming. >> the deal will increase estate tax and bring back clinton era tax cuts. fromhouse holds earning 250 thousand dollars a year reportedly to those making 4 hundred and 50 thousand dollars. frustratedrepublicans say while the deal will probably pass, it's not ideal. >> i personally don't like it because i think we're kicking the can down the road and not addressing the real crisis in the country which was not the fiscal cliff, it's a debts crisis. >> the spending cuts that were a sticking point are now postponed for two months at least. >> much more to come on this. stay with abc2 news for late breaking details out of washington. when we're not on the air you can get updates on abc2news.com. you can also find a guide on what the deal could mean for your wallet. if youhaven't checked your tax standing with the homestead tax credit, you better do it, today is the last day. you can turn in your tax application on wednesday in person
. >> earlier president obama had harsh words. >> if they think i will finish the job in spebding cuts -- spending cuts alone they've got another thing coming. >> the deal will increase estate tax and bring back clinton era tax cuts. fromhouse holds earning 250 thousand dollars a year reportedly to those making 4 hundred and 50 thousand dollars. frustratedrepublicans say while the deal will probably pass, it's not ideal. >> i personally don't like it because i think we're...
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court and michael gruenwald's the new new deal, the hidden story of change in the obama era along with bob woodward's the price of politics. i want to ask both of you, did up woodward's most recent book get the attention the most of his books get? >> guest: my feeling is that it got initial attention but that it was crowded out by just the nature of the news cycle happening so initially at least to my mind there were a couple of nuggets that have not been reported before that there wasn't that many other ones that emerged after the initial one or two so it lost some of its momentum. i'm sure bob will have an equally subjective answer on this front too. >> guest: i mean, there is always a standard of what you're comparing it to. bob woodward it was not his most commercially successful book. i think sarah touched on two things. one is the news cycle has -- and the other factor was the topic. it was about the negotiations over the budget, the debt and that's not exact he and exciting topic for a lot of people as opposed to his books on maneuverings in the bush white house which i think wo
court and michael gruenwald's the new new deal, the hidden story of change in the obama era along with bob woodward's the price of politics. i want to ask both of you, did up woodward's most recent book get the attention the most of his books get? >> guest: my feeling is that it got initial attention but that it was crowded out by just the nature of the news cycle happening so initially at least to my mind there were a couple of nuggets that have not been reported before that there wasn't...
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. >> and, of course, the debt ceiling, this deal doesn't address that. so we could be fighting this all over again in just a few months, president obama already saying he doesn't want to do this. where does this leave things in our last final seconds? >> yes. we'll have another routine over that and republicans feel much strengthened by that because they have the leverage and if the debt ceiling is not agreed to, then the credit rating of the united states as a country will go down. the president didn't want to play this game, looks like he's now going to have to play this game. >> and the political near the rancorring continues. >> but happy new year. >> same to you, always a pleasure to see you and we'll see you next year. >> okay. >>> on to much better news, can you believe it? the redskins are nfc east champs. last night's 10 point win over the dallas cowboys was their seventh straight victory, so good-bye 2012, hello 2013 and a trip to the playoffs. we are here with sports director scott smith. you were the good luck charm i'm going to say. you roll
. >> and, of course, the debt ceiling, this deal doesn't address that. so we could be fighting this all over again in just a few months, president obama already saying he doesn't want to do this. where does this leave things in our last final seconds? >> yes. we'll have another routine over that and republicans feel much strengthened by that because they have the leverage and if the debt ceiling is not agreed to, then the credit rating of the united states as a country will go down....
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the obsession, getting a deal at the very last minute. others kept saying well, you just watch, i know it looks bad now but if you wait until the stroke of midnight, we'll be there. indeed we are a, but i think th rational people say why is this that we do this at 11:59, and have terrible consequences. >> all right, ezra klein, stand by if you will. let's bring in "huffington post" ryan grim, i know you were just over joyed hearing this. but after all of this back and forth for so long, it is coming down literally to midnight. >> sure, and ezra is right. that is exactly when we would have expected it. either right at midnight or -- that is how they get things done. and the reason they do that, is because what they're trying to do is broadly unpopular. people don't support austerity. there is a certain type of industrial sector that like s austerity, but that is about it. so in order to inflict it on the people, so to speak, they have to create these artificial deadlines, saying if we don't hurt you a little bit right now then we'll have t
the obsession, getting a deal at the very last minute. others kept saying well, you just watch, i know it looks bad now but if you wait until the stroke of midnight, we'll be there. indeed we are a, but i think th rational people say why is this that we do this at 11:59, and have terrible consequences. >> all right, ezra klein, stand by if you will. let's bring in "huffington post" ryan grim, i know you were just over joyed hearing this. but after all of this back and forth for...
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i'm going to deal with obama i can't think of anybody because in america you know we have we have the a let it go she and i won the pacific ocean and the other side of mexico and canada and we're so isolated you know it's not like paris where you know within fifteen hundred miles you get twenty three different countries and we're so isolated in america it was obama who took us through and held our hand and in the sandy hook i mean hurricane sandy and in newtown the president actually he actually brought us through that he held her hand and dragged us through and said it's going to be ok. and it was but what about social protests to mean we had the occupy movement ok do you see something like this you know coming back i mean because it kind of went to a low this year. yeah they have vanished haven't yet which is really interesting in itself i think the point was made in you know in many ways including during the american presidential debate you know is it the forty seven percent or is it the the one percent it was interesting and i think the point was really made but at the end of the
i'm going to deal with obama i can't think of anybody because in america you know we have we have the a let it go she and i won the pacific ocean and the other side of mexico and canada and we're so isolated you know it's not like paris where you know within fifteen hundred miles you get twenty three different countries and we're so isolated in america it was obama who took us through and held our hand and in the sandy hook i mean hurricane sandy and in newtown the president actually he...
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in separate calls with president obama. so president obama has been on the phone here at the white house with the democratic leaders over in capitol hill, and discussed this deal with them, and both of the top democrats in congress have agreed to the terms of this deal so it looked like they have an agreement to proceed and we have something that congress, boat houses of congress can move forward with if biden doesn't get too much resistance tonight and speaker boehner agrees to put it on the floor in the coming days. >> let's bring in a democratic senator, jeff merkley of oregon is joining us. you're getting ready to go into this democratic caucus meeting with the vice president, joe biden. what are you hearing right now? are you on board? >> we haven't heard the detail said, but there's three main things we want to nail down. first is fairness to people who versus those who are best off in society. the second is are we looking down the road to another fiscal cliff, such as sequestering or the dent ceiling kicking in a few
in separate calls with president obama. so president obama has been on the phone here at the white house with the democratic leaders over in capitol hill, and discussed this deal with them, and both of the top democrats in congress have agreed to the terms of this deal so it looked like they have an agreement to proceed and we have something that congress, boat houses of congress can move forward with if biden doesn't get too much resistance tonight and speaker boehner agrees to put it on the...
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this deal. he says it's not good enough in part because the tax rates are on those who are making $400,000 or more, $450,000 or more if they're couples, and not on those who make $250,000 or more. that is the level that president obama campaigned on. he said folks who make $250,000 or more should pay more in taxes. richard trumka expressing concern tonight that this will ultimately wind up taking a larger cut into spending than democrats will be comfortable with. so that is some of the criticism on the left. i imagine vice president biden have l have to answer some questions about that when he heads over to the hill. but as kelly mentioned, he has been one of the key negotiators in this entire process. remember, on saturday, milissa, these negotiations had all but stalled. and that is the point at which minority leader mcconnell picked up the phone, called biden, asked him to engage in these negotiations. he did. he is of course a veteran of the senate. few people understand how the inner works
this deal. he says it's not good enough in part because the tax rates are on those who are making $400,000 or more, $450,000 or more if they're couples, and not on those who make $250,000 or more. that is the level that president obama campaigned on. he said folks who make $250,000 or more should pay more in taxes. richard trumka expressing concern tonight that this will ultimately wind up taking a larger cut into spending than democrats will be comfortable with. so that is some of the...
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cliff. >> just hours before midnight deadline, president obama gathered supporters to announce a deal was within site. >> our immediate priority is middle class families starting tomorrow. i think that is a modest goal that we can accomplish. >> the vice president and senate republican leader leading negotiations, but phone shall deal is expected to increase estate tax from 35ses today 40%. extend unemployment benefits, and bring back higher clinton era tax rates on households making more than $450,000 a year, that $450,000 fresh hold is a major concession. tom harkin threatened to pull support. >> the deal must be one that favors the middle class and he cautioned rinz against taking a spending cuts only approach. >> if they think that is going to be the formula they've got another thing coming. >> some quickly condemned the comments. >> it's dismissive and insulting. >> that is not the way presidents should lead. >> for republicans in congress who said they'd never raise taxes on anyone, the deal to let the bush era cuts lapse for the wealthy is a bitter pill. >> the big battle is st
cliff. >> just hours before midnight deadline, president obama gathered supporters to announce a deal was within site. >> our immediate priority is middle class families starting tomorrow. i think that is a modest goal that we can accomplish. >> the vice president and senate republican leader leading negotiations, but phone shall deal is expected to increase estate tax from 35ses today 40%. extend unemployment benefits, and bring back higher clinton era tax rates on households...
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deal. more narrow issues are still dividing them. they've maid a lot of progress. they're just not there yet. milissa? >> i'm glad you just described that to us all about the mood in the senate tonight. correct me if i'm wrong, it almost sounds hopeful there. >> is a sense it's worth staying here and they're looking at these details. at the same time people are tired there are some frustrations there is a sense they could have gotten this done sooner. you hear that plenty. but those who have been at the table and looking at this do see compromise that has happened on both sides. you have republicans and democrats who made big compromises on taxes. the president moving up from his $250,000 threshold to 400 and 450 for individuals and couples. and republicans who wanted to see no tax increases for any level did agree, at least at this stage, that they would support tax increases. i say at this stage because this agreement should it happen then has to be voted on of course by the full senate a
deal. more narrow issues are still dividing them. they've maid a lot of progress. they're just not there yet. milissa? >> i'm glad you just described that to us all about the mood in the senate tonight. correct me if i'm wrong, it almost sounds hopeful there. >> is a sense it's worth staying here and they're looking at these details. at the same time people are tired there are some frustrations there is a sense they could have gotten this done sooner. you hear that plenty. but those...
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this deal hikes taxes on incomes over $450,000. i don't think it's a good deal but it's better than $250,000. they wanted a bigger hike in the estate tax, the inheritance tax, they're not getting that, and the spending fight is pushed off until later. largely, this is a win for republicans and there are some liberals in the democratic senate caucus who want to rebel and biden is coming in to try to calm them down. >> hold on for a second. jessica yellin is at the white house. she's getting more information as well. what are you learning? >> hi, wolf. it's my understanding there is a deal among the principles in this negotiation. and they have reached their fundamental agreement. all that's left now is to get the democratic caucus briefed on it and informed about the particulars. they won't formally announce that there is a deal until they have briefed the democratic caucus and let them know exactly what's in it. my understanding is that the vice president is not yet headed up there just at this moment, but he's heading there shortl
this deal hikes taxes on incomes over $450,000. i don't think it's a good deal but it's better than $250,000. they wanted a bigger hike in the estate tax, the inheritance tax, they're not getting that, and the spending fight is pushed off until later. largely, this is a win for republicans and there are some liberals in the democratic senate caucus who want to rebel and biden is coming in to try to calm them down. >> hold on for a second. jessica yellin is at the white house. she's...